Gambling Capital:
by Jerry "Jet" Whittaker
February 14, 2006
Gambling used to be what
a few unscrupulous people did with the aid of organized
crime but gambling fever now seems to affect nearly
everyone as more and more states try to legalize various
forms of gambling. Legalized gambling exists in
forty-seven but these states and their citizens often
ignore the costs that are associated with legalized
gambling. The social and economic costs of gambling are
enormous and people are not bothered about the cost.
Who is the gambling
capital?
Yet Las Vegas is the
gambling capital in spite of the proliferation of casino
betting to many other parts of the country since on
December 6, 2003, Terrible's Casino & Hotel celebrated
its third anniversary by offering gamblers a pair of
sweet six-hour deals that those of them in the
Chicago-area can only dream about. And from 6:00 p.m. to
midnight video poker players received three-times the
payoff on royal flushes at all machines twenty-five
cents and under which meant instead of the usual
4,000-coin or $1,000 royal flush payoff for max coins on
a quarter machine, Terrible's paid 12,000 coins or
$3,000. However by making it such a positive game,
quarter players could expect to realize about $30 per
hour in profit in addition to the slot club benefits by
using a player's card and during the same six-hour
bonanza, blackjack players at Terrible's were getting
double payoffs on suited naturals. That meant instead of
receiving 3 to 2 ($7.50) for a suited blackjack for a
five-dollar bet, anniversary night players got 3 to 1
($15.00) for a five dollar bet and the Las Vegas Advisor
reported this bonus gave the game a 1.25 percent edge to
basic strategy players. Hence Las Vegas, of course, is a
buyer's market for gamblers and there is intense
marketing competition among the property owners to boost
shares but the Chicago-area is still a seller's market.
The latest gambling
Capital:
According to the BBC
News a year after the
abolition of betting tax, some industry watchers believe
the UK is aiming to become the world's biggest gambling
arena. And the online betting companies have said that
the changes are good news for both land-based and
internet operators, as international punters perceive
the betting sites as regulated and trustworthy also an
increasing number of online betting groups are moving
back to the UK from offshore locations to take advantage
of the shift and hence UK capital is increasing.
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